One Retiree's Health Insurance

[Lon]

I have related in other posts from time to time about my and my wife's medical history. She is now 65 and eligible for medicare and I am 74. She will be paying $96.40 each month to the U.S. government from her monthly Social Security Benefit. I am currently paying the same $96.40 each month from my Social Security Benefit. That's a total of $192.80 monthly for both of us to be covered under the present government health program MEDICARE. HOWEVER, I knew way before I ever retired that the MEDICARE program would not cover ALL medical procedures, most drugs, eye exams, dental, custodial care, routine physicals, services out of the U.S. and more. SO, in addition to the $198.80 that we pay for MEDICARE, I pay $467.26 each month for supplemental health insurance that will pay all of those things that the government program will not pay for. This makes or total monthly outlay $660.06. I am happy with this arrangement and would not be without the supplemental, and Quinn I think would agree that my monthly outlay is a bargain compared to some retiree's. It would make little difference to me if I paid this $660.06 each month to the government or to an insurance company if I could still have my choice of doctors, labs, clinics, hospitals and be able to seek out the best medical care. I really don't think that this would be possible under a health program completely in the hands of the government. I also don't think that Americans will ever have the same quality of health care that our esteemed members of congress and the senate have. I spent a good part of my working career marketing employee benefits including pension and profit sharing plans and learned of how little value some employees placed on health insurance. Making an automobile payment of $300 each month was of higher priority than paying $150 month to cover themselves and family (1980). This is why some form of compulsory participation is needed and I just hope we still have choices on who, where and how we will be treated.

[QUINNSCOMMENTARY]

Lon;1185146 wrote: I have related in other posts from time to time about my and my wife's medical history. She is now 65 and eligible for medicare and I am 74. She will be paying $96.40 each month to the U.S. government from her monthly Social Security Benefit. I am currently paying the same $96.40 each month from my Social Security Benefit. That's a total of $192.80 monthly for both of us to be covered under the present government health program MEDICARE. HOWEVER, I knew way before I ever retired that the MEDICARE program would not cover ALL medical procedures, most drugs, eye exams, dental, custodial care, routine physicals, services out of the U.S. and more. SO, in addition to the $198.80 that we pay for MEDICARE, I pay $467.26 each month for supplemental health insurance that will pay all of those things that the government program will not pay for. This makes or total monthly outlay $660.06. I am happy with this arrangement and would not be without the supplemental, and Quinn I think would agree that my monthly outlay is a bargain compared to some retiree's. It would make little difference to me if I paid this $660.06 each month to the government or to an insurance company if I could still have my choice of doctors, labs, clinics, hospitals and be able to seek out the best medical care. I really don't think that this would be possible under a health program completely in the hands of the government. I also don't think that Americans will ever have the same quality of health care that our esteemed members of congress and the senate have. I spent a good part of my working career marketing employee benefits including pension and profit sharing plans and learned of how little value some employees placed on health insurance. Making an automobile payment of $300 each month was of higher priority than paying $150 month to cover themselves and family (1980). This is why some form of compulsory participation is needed and I just hope we still have choices on who, where and how we will be treated.


As you probably know, your Medicare premium is only 25% of the cost of the program. Not sure I agree the supplemental coverage is a good deal, that seems a bit high. Does it really cover all that Medicare does not, like vision, dental and Rx?

At least on the east coast you can get a supplemental policy closer to $350 a month. did you check out AARP coverage?

[Lon]

QUINNSCOMMENTARY;1185710 wrote: As you probably know, your Medicare premium is only 25% of the cost of the program. Not sure I agree the supplemental coverage is a good deal, that seems a bit high. Does it really cover all that Medicare does not, like vision, dental and Rx?



At least on the east coast you can get a supplemental policy closer to $350 a month. did you check out AARP coverage?


The supplemental insurance for my wife and I is partially paid for by the company that I worked for. It does include dental, vision and prescriptions with the usual co-pay. It has paid in full, using the current exchange rate for medical costs incurred while we are in New Zealand. Not many supplemental plans will do that. I had knee surgery in NZ. I forgot to mention that included in my costs for supplemental is a Long Term Care Benefit that currently will pay $100 per day with a 180 day wait period. The benefit includes at no additional cost a COLA. This plan paid for reconstructive surgery to my wife's left breast. We went to one of the top guys in the U.S with a practice in Charleston, SC that pioneered this particular procedure. We had to pay $4,000 out of pocket but the supplemental paid $56,000 for the surgeries and other medical costs. BTW, this supplemental has paid a total of $284,000 since I have retired. I can go online and get a running total of benefits paid. There is also no lifetime limit. I am not a fan of anything that the AARP markets. I joined AARP very briefly when I first became eligible and came to the conclusion that they really didn't represent many of us.